Robbins Umeda LLP Announces an Investigation of Taleo Corporation
09 Febrero 2012 - 6:55PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the Board of Directors of Taleo
Corporation (NASDAQ: TLEO) in connection with their efforts to sell
the company to Oracle Corporation (NASDAQ: ORCL). Concerned
shareholders who would like more information about their rights and
potential remedies can contact attorney Gregory E. Del Gaizo at
(800) 350-6003, info@robbinsumeda.com, or via the shareholder
information form on the firm's website.
On February 9, 2012, Oracle announced it has entered into an
agreement to acquire Taleo for $46.00 per share. According to the
deal announcement, Taleo's Board has unanimously approved the
transaction, which is expected to close mid-year 2012.
Robbins Umeda LLP's investigation focuses on whether Taleo's
Board is undertaking a fair process to obtain maximum value and
adequately compensate shareholders in light of the minimal 18.13%
premium over Taleo's February 8, 2012 closing price. In addition,
on February 9, 2012, Taleo reported financial results for the
fourth quarter of 2011 that exceeded analyst expectations. Further,
at least two analysts have price targets ranging from $48 - $50 per
share, higher than the current offer price.
Robbins Umeda LLP's attorneys highlight that Taleo's
shareholders have the option to file a class action lawsuit against
the company to secure the best possible price for the company's
shareholders and the disclosure of material information to
shareholders so they can vote on the transaction in an informed
manner.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/taleo-corporation/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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